Prudential Financial's (PRU) investment management arm, PGIM, is combining its fixed income and private credit units to create a nearly $1 trillion credit platform, Reuters reported Tuesday, citing a company spokesperson.
The newly unified unit will be led by John Vibert, formerly the head of fixed income, with Matt Douglass continuing as head of private credit and reporting to Vibert, the report said.
PGIM is also merging its multi-asset and quantitative investment teams, the report said.
Prudential Financial did not immediately respond to MT Newswires' request for comment.
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